Deutsche Bank AG Sells 14,428 Shares of Kennametal Inc. (NYSE:KMT)

Deutsche Bank AG cut its holdings in shares of Kennametal Inc. (NYSE:KMT) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 132,532 shares of the industrial products company’s stock after selling 14,428 shares during the period. Deutsche Bank AG owned approximately 0.17% of Kennametal worth $3,183,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. grew its position in Kennametal by 120.9% in the 4th quarter. Blue Trust Inc. now owns 1,308 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 716 shares in the last quarter. Headlands Technologies LLC grew its position in Kennametal by 214.2% in the 4th quarter. Headlands Technologies LLC now owns 2,118 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 1,444 shares in the last quarter. Sterling Capital Management LLC grew its position in Kennametal by 801.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,453 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 2,181 shares in the last quarter. KBC Group NV grew its position in Kennametal by 50.3% in the 4th quarter. KBC Group NV now owns 3,351 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 1,122 shares in the last quarter. Finally, Bank of Montreal Can grew its position in Kennametal by 10.5% in the 4th quarter. Bank of Montreal Can now owns 9,437 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 898 shares in the last quarter.

Kennametal Stock Up 0.4%

Kennametal stock opened at $21.95 on Wednesday. Kennametal Inc. has a twelve month low of $17.30 and a twelve month high of $32.18. The firm has a 50 day moving average price of $20.27 and a 200-day moving average price of $23.32. The company has a market capitalization of $1.67 billion, a P/E ratio of 17.99, a P/E/G ratio of 3.69 and a beta of 1.39. The company has a quick ratio of 1.13, a current ratio of 2.53 and a debt-to-equity ratio of 0.47.

Kennametal (NYSE:KMT) last released its earnings results on Wednesday, May 7th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. Kennametal had a net margin of 4.76% and a return on equity of 8.12%. The firm had revenue of $486.40 million during the quarter, compared to the consensus estimate of $489.30 million. During the same period in the prior year, the firm earned $0.30 EPS. The company’s revenue was down 5.7% compared to the same quarter last year. As a group, equities analysts predict that Kennametal Inc. will post 1.17 EPS for the current year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Tuesday, May 13th. Kennametal’s dividend payout ratio is presently 57.55%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on KMT shares. Barclays upped their price objective on shares of Kennametal from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Morgan Stanley upped their price objective on shares of Kennametal from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Finally, StockNews.com raised shares of Kennametal from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.80.

Kennametal Profile

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.